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Yun's prediction

By lurking   Follow   Fri, 16 Nov 2012, 4:01pm   3,107 views   37 comments
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I kept this November 2011 article on the NAR conference that took place in Anaheim last year. I wanted to see how far off the NAR lapdog would be when he gave his predictions for this year. Here is the article

http://realestate.aol.com/blog/2011/11/14/housing-market-on-the-rise-in-2012-expert-says/

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1. APOCALYPSEFUCK is Shostakovich Follow Befriend (28) 182 threads 4,598 comments Premium

   1   6:11am Sun 18 Nov 2012   Share   Quote   Permalink   Like (4)   Dislike   Protected   Listening to the NAR's recommendations on RE is like asking Jeffrey Dahmer for tips on table manners.

2. Oxygen Follow Befriend 14 threads 168 comments Brooklyn, NY

   2   1:17am Sat 17 Nov 2012   Share   Quote   Permalink   Like (2)   Dislike   who gives a fuck what Yun says?

3. Kevin Follow Befriend 40 threads 2,652 comments

   3   8:18pm Sun 18 Nov 2012   Share   Quote   Permalink   Like (2)   Dislike   "I" "like" "to" "use" "quotes" "too", "but" "I" "understand" "when" "they" "are" "appropriate".

4. Bigsby Follow Befriend 2,841 comments Monterey, CA

   4   9:43am Sun 18 Nov 2012   Share   Quote   Permalink   Like (1)   Dislike   I suspect Darrell doesn't understand what per capita means.

5. jvolstad Follow Befriend (4) 1,003 threads 1,146 comments San Antonio, TX jvolstad's website

   5   6:03pm Sun 18 Nov 2012   Share   Quote   Permalink   Like (1)   Dislike   Realtors should get a job. A real job that is.

6. Bigsby Follow Befriend 2,841 comments Monterey, CA

   6   5:59am Tue 20 Nov 2012   Share   Quote   Permalink   Like (1)   Dislike   LiarWatch says How can that be when new construction is a fraction of the cost of resale housing? You can't even keep your lies straight. Typical used house pimp.... and can't even be truthful about that. Contact Deepak Chopra. I'm sure he can give you some bullshit spiritual guidance to make up for all those years you gorged yourself at the trough of the housing bubble. You new construction pimps just fleeced all those poor misguided individuals who were led down the path of debt by nice new marble counter tops installed by pimping contractors like yourself.

7. Bigsby Follow Befriend 2,841 comments Monterey, CA

   7   6:34am Tue 20 Nov 2012   Share   Quote   Permalink   Like (1)   Dislike   LiarWatch says How can that be when new construction is a fraction of the cost of resale housing? Why should I believe you? You're a builder - a profession ranked right up there with realtors for untrustworthiness. All of you involved in the real estate business are neck deep in it, all of you, and that's why you keep flapping around this forum spouting your nonsense - you're covering for the shame and guilt you feel for the part you played in bilking so many people during the housing bubble. Shame on you, you new construction pimp.

8. iwog Follow Befriend (48) 274 threads 12,646 comments 47 male Lafayette, CA Premium

   8   4:04pm Fri 16 Nov 2012   Share   Quote   Permalink   Like   Dislike   Protected   Dead on accurate with the housing market. Not so much with mortgage rates although he couldn't have imagined QE3.

9. E-man Follow Befriend (31) 34 threads 2,608 comments San Jose, CA Premium

   9   4:14pm Fri 16 Nov 2012   Share   Quote   Permalink   Like   Dislike   Protected   Well, well, well. After he's been wrong for several years, he's finally correct for once although he was off on his unemployment and interest rate numbers. iwog says although he couldn't have imagined QE3. Dude, I didn't see QE3 and I predicted interest rate would drop to 3.25% in 2012. Go and check out the 2012 prediction. Can I toot my own horns a little bit? :)

10. Kevin Follow Befriend 40 threads 2,652 comments

    10   1:19am Sun 18 Nov 2012   Share   Quote   Permalink   Like   Dislike   Mortgage rates will remain low as long as the rate of purchasing remains low and the economy remains sluggish. If / when the economy improves, rates will rise. There's no real reason to believe that they'll move in different directions over the long term.

11. Bigsby Follow Befriend 2,841 comments Monterey, CA

    11   6:13am Sun 18 Nov 2012   Share   Quote   Permalink   Like   Dislike   Darrell In Phoenix says And "rate of purchasing" will remain low as long as resale prices remain grossly inflated and distorted. Remember.... Housing demand is at 16 year lows for a reason..... that reason is grossly inflated prices. What's the median household income in Phoenix? What's the median house price?

12. Bigsby Follow Befriend 2,841 comments Monterey, CA

    12   6:50am Sun 18 Nov 2012   Share   Quote   Permalink   Like   Dislike   Darrell In Phoenix says Household income has nothing to do with it. Wage earner income is under $24k. Is that a per capita figure by any chance?

13. The Professor Follow Befriend (5) 25 threads 1,324 comments Premium

    13   9:25am Sun 18 Nov 2012   Share   Quote   Permalink   Like   Dislike   Protected   Bigsby says Darrell In Phoenix says Household income has nothing to do with it. Wage earner income is under $24k. Is that a per capita figure by any chance? Median Income Phoenix:$47,085 Arizona:$48,745 Estimated per capita income in 2009: $22,209 Read more: http://www.city-data.com/city/Phoenix-Arizona.html#ixzz2Cb06yrUE

14. Bigsby Follow Befriend 2,841 comments Monterey, CA

    14   11:15am Sun 18 Nov 2012   Share   Quote   Permalink   Like   Dislike   Darrell In Phoenix says Darrell In Phoenix says Wage earner income is under $24k. So you really don't know what per capita means.

15. The Professor Follow Befriend (5) 25 threads 1,324 comments Premium

    15   1:50pm Sun 18 Nov 2012   Share   Quote   Permalink   Like   Dislike   Protected   Wage earner income is under $24K everywhere. Low wage earner income. Mininum wage+ $2/hour * 50 weeks/year * 40 hours/week= ($7.80 + $2) * 50 * 40 = $19,600. These low wage earners in Phoenix don't buy homes, they rent for double the PITI from some investor.

16. The Professor Follow Befriend (5) 25 threads 1,324 comments Premium

    16   1:53pm Sun 18 Nov 2012   Share   Quote   Permalink   Like   Dislike   Protected   Bigsby says Darrell In Phoenix says Darrell In Phoenix says Wage earner income is under $24k. So you really don't know what per capita means. Darrell is not stupid, but I think he may have had a tramautic experience with a realtor at sometime in his life.

17. Bigsby Follow Befriend 2,841 comments Monterey, CA

    17   5:51pm Sun 18 Nov 2012   Share   Quote   Permalink   Like   Dislike   Darrell In Phoenix says Is that a per capita figure by any chance? So you really don't know what wage earner income means. Here's a hint..... it means housing prices falling to much lower levels. ;) I know what wage earner income means, but as you quoted the per capita figure...

18. Bigsby Follow Befriend 2,841 comments Monterey, CA

    18   5:56pm Sun 18 Nov 2012   Share   Quote   Permalink   Like   Dislike   Darrell In Phoenix says Bigsby says I know what wage earner income means No you don't. Says the person who quoted the per capita figure.

19. Bigsby Follow Befriend 2,841 comments Monterey, CA

    19   6:11pm Sun 18 Nov 2012   Share   Quote   Permalink   Like   Dislike   Darrell In Phoenix says Bigsby says Says the person who quoted the per capita figure. And prices are rolling back.... enjoy. But apparently not in Phoenix, though of course that doesn't matter to you seeing as you don't live there.

20. Kevin Follow Befriend 40 threads 2,652 comments

    20   7:55pm Sun 18 Nov 2012   Share   Quote   Permalink   Like   Dislike   Could you please elaborate what exactly you mean by "wage earner income"? If you're talking about the average income of a working person in a household, you're clearly wrong. If you're talking about the (antiquated) average income of hourly workers, you're also wrong. It's within 10% of the average according to the BLS. Hourly workers (outside of skilled trades) are also overwhelmingly not home buyers. Instead of telling people that they're wrong, why don't you tell us WTF you mean?